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Bok Kim testified that she had received an 800 million won
inheritance from her father in 1976. She said that her father
had designated 350 million won of this inheritance to be
delivered to petitioners’ son when he grew up. She claims that
she held on to these funds for 16 years until petitioners asked
that the money be transferred to them in 1992.
Bok Kim admitted that she did not have any written records
that could demonstrate that she ever had possession of the
inheritance money that she allegedly transferred to petitioners.
She explained that she never put the funds into a Korean
financial institution but rather used the funds to make private
loans and real estate investments. She claimed that as the
private loans were repaid, she kept the money in a “secret place”
at her house. She testified that she received interest on the
private loans, but she said that she neither transferred such
earned interest to Chung Kim’s son nor reported the interest to
tax authorities. She had no explanation for the lack of
documentary evidence of the alleged real estate investments.
Bok Kim could not recall the dates or total number of
occasions when she transferred either the 350 million won
inheritance or the 400 million won loan. Neither petitioners nor
Bok Kim had any records showing that she made any transfers of
the money to Chung Kim during 1993 and 1994. Petitioners and Bok
Kim explained that there were no records of the transfers because
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